Does anyone remember Chemical Ali of Iraq? The man whose words comforted Iraqis, but the reality was that American bombs were dropping like rain.

In life, words matter. Humans cannot be deceived with counterfactual analysis and promises because in the end, reality always catches up. The Finance Minister, Hon. Ato Forson (aka Dr. Doolittle), in his mid-year budget review, offered promises and propaganda notes to NDC communicators rather than solutions to the country’s problems.

I have said in many submissions that borrowing to spend is a lazy way of running an economy. Where is the RESET, the fundamental change, the departure from the Guggisberg economy we have been promised over and over?

The Finance Minister read the 2026 budget in November 2025 and made many promises on expenditure. The NDC base was excited: various sectors and regions were supposed to see massive developments. He told us he would spend GH₵172.5 billion by mid-year 2026. Yet the same finance minister has only spent GH₵136.9 billion and is claiming he is doing well. Let’s examine this for a minute.

In the 2026 budget, there are projects and activities totalling GH₵172.5 billion. Now that you have decided not to spend GH₵35.6 billion, which projects and programmes have you scrapped? In reality, projects stated in the budget will not happen. How is this an achievement?

Let us discuss the Sinking Fund. The Finance Minister and the President make many statements about the Sinking Fund, but in reality they do nothing about it. The Minister said that, as at 22 July, 2026, the Sinking Fund has accumulated GH₵15.6 billion. I want the Minister to tell us where this money came from. Let me explain.

In 2025, the Minister budgeted GH₵280,733,769 to be put into the Sinking Fund, but zero funds were deposited into the fund according to his own budget (page 87).

In 2026, the half-year budget for the Sinking Fund is GH₵159,728,100. The big question the Finance Minister must answer is: where did he get GH₵15.6 billion from? In accounting, there cannot be a credit without a debit.

Upon critical review, the budget is nothing but smoke and mirrors. Republican AI is killing Ghanaian businesses with unrealistic import duties at the port. If the dollar is low and interest rates are low, but import duty is doubled, that is “COS 90” in mathematical terms.

In the coming days, we will show that there is nothing in the mid-year budget review, just as Chemical Ali gave false assurance to the Iraqis.

KNP

(Voice of the Youth)